3/16/2006

Visa Debuts RFID-Enabled Payment Card

Filed under: — By Aviran Mordo @ 6:50 pm

Frame that dollar bill; if Visa and MasterCard have their way it’ll soon be an antique. The credit card giants say they are moving closer to gaining acceptance in the United States for radio-frequency-enabled “contactless” payment devices that can be waived near a sensor rather than swiped through a card reader. Visa last week even introduced a mini version of its device, about half the size of a conventional credit card.

Radio-frequency tags have been a hit with drivers for the past decade, using them at Mobil gas stations and at tollbooths, but U.S. businesses have been slower to invest in the infrastructure needed to implement the technology in retail settings. Visa is trying to change that mindset and in December launched a pilot program at Atlanta’s Philips arena, home of the NBA’s Hawks and the NHL’s Thrashers, to prove the efficiency of contactless payment when crowds gather at concession stands.

Visa’s contactless payment chip uses 128-bit and triple Data Encryption Standard, or DES, encryption technology to protect the data used during a transaction, which includes the user’s account number and a unique numeric code generated for each transaction.

Source: InformationWeek

 

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